Code of Criminal Procedure Act, 1973

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Sections	Particulars
Chapter IX	Accounts of Companies
130	Re-opening of accounts on court’s or Tribunal’s orders
Description	1. A company shall not re-open its books of account and not recast its financial statements, unless an application in this regard is made by the Central Government, the Income-tax authorities, the Securities and Exchange Board, any other statutory regulatory body or authority or any person concerned and an order is made by a court of competent jurisdiction or the Tribunal to the effect that— i. the relevant earlier accounts were prepared in a fraudulent manner; or ii. the affairs of the company were mismanaged during the relevant period, casting a doubt on the reliability of financial statements:Provided that the court or the Tribunal, as the case may be, shall give notice to the Central Government, the Income-tax authorities, the Securities and Exchange Board or any other statutory regulatory body or authority concerned and shall take into consideration the representations, if any, made by that Government or the authorities, Securities and Exchange Board or the body or authority concerned before passing any order under this section.2. Without prejudice to the provisions contained in this Act the accounts so revised or re-cast under sub-section (1) shall be final.